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SEPA

SEPA. Nationale Bank van België Banque nationale de Belgique. Jan Vermeulen Axelle Waterkeyn. Agenda. What is SEPA ? Objectives Benefits of SEPA Payment instruments Key players Legal framework SEPA in Belgium National organisation Status Lessons learnt from a big biller Next steps.

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SEPA

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  1. SEPA Nationale Bank van België Banque nationale de Belgique Jan Vermeulen Axelle Waterkeyn

  2. Agenda • What is SEPA ? • Objectives • Benefits of SEPA • Payment instruments • Key players • Legal framework • SEPA in Belgium • National organisation • Status • Lessons learnt from a big biller • Next steps

  3. What is SEPA?

  4. A SINGLE EURO PAYMENTS AREA... Objectives "...becomes a reality, when individuals and corporations are able to make cashless payments throughout the euro area from a single payment account anywhere in the euro area using a single set of payment instruments as easily, efficiently and safely as they can make them today at the national level. " 4th Progress report of the ECB on SEPA - February 2006

  5. Objectives  LISBON agenda: a more efficient and competitive Europe

  6. Objectives EFTA EU27 Eurozone • € payments within 32 countries* • 99 % of all our non-cash payments are affected • impact SEPA > introduction € cash * 32 countries: EU + Norway, Liechtenstein, Iceland, Switzerland & Monaco

  7. Benefits of SEPA Payment system PE-ACH

  8. Benefits of SEPA • Consumer and merchants • Larger offer of payment services • Choice of banks • Cross border direct debit • European wide use of cards

  9. Benefits of SEPA • Corporates • Decrease number of bank-relations/bank accounts • Simplification of liquidity management and payment modules • Standardisation of banking formats, f. ex. incoming and outgoing payments have same format • further automatisation : higher STP • possibility of development of centralized service centers for payments (incoming/outgoing) • e-invoicing/e-reconciliatian could be organised on the SEPA level

  10. Payment instruments • SEPA Credit Transfer - SCT • SEPA Direct Debit - SDD • SEPA for Cards

  11. Payment instruments 01/2008 02/2014 11/2009 STOP! National CTNational DD SEPA credit transfer Public authorities as first moversFollowed by big billers SEPA Direct Debit First big biller migrates end 11/2011 Technical, contractual and business standards SEPA cards

  12. Key players EPC European Commission European Payments Council Eurosystem

  13. Legal framework (1) • PSD: Payment Services Directive 2007/64/EC adapted to the Belgian law (law on Payment Services 10-12-2009 published15-01-2010) • Execution time, refund, full amount to be transferred Payment institutions Transparancy and information Rights and obligations

  14. Legal framework (2) • 'End-date' Regulation: Regulation 260/2012 establishing technical and business requirements for credit transfers and direct debits in euros • "Credit transfers shall be carried out in accordance with the requirements ... by 1 February 2014" • "Direct debits shall be carried out in accordance with the requirements ... by 1 February 2014"

  15. SEPA in Belgium

  16. National organisation of SEPA Steering Committee on the Future of Payment means Program Management Office SEPA Forum

  17. National organisation of SEPA SEPA-FORUM BOARD Steering Committee on the Future of Payment Means PAYSYS COMMITTEE PROGRAM MANAGEMENT OFFICE (PMO) CO-ORDINATION COMMITTEE WG COMMUNICATION WG CREDIT TRANSFERS WG DIRECT DEBIT WG CARDS WG CHEQUES WG INFRASTRUCTURE WG C2B & B2C STANDARDS WG BILLS OF EXCHANGE • SEPA Forum: Banks Belgian Migration Plan (version 4.0) www.sepabelgium.be

  18. National organisation of SEPA • Steering Committee on the Future of Payment Means: Society PROGRAM MANAGEMENT OFFICE (PMO) SEPA-FORUM Progress Reports : www.nbb.be/sepa/en

  19. National organisation of SEPA • National Bank of Belgium • "Maatschappelijk overleg Betaalverkeer (MoB)" • "Débat sociétal sur les moyens de paiement" • "Societal debate on the future of payment means" • SEPA working groups • Public authorities • Consumers • Businesses

  20. State of play - SCT (2008 - july 2012) (% du nombre total des virements interbancaires) Sources: Banque centrale européenne (BCE) et Centre d’échange et de compensation (CEC).

  21. State of play - SDD (july 2011 - april 2012)

  22. State of play - Cards Belgian scheme will outlive SEPA

  23. State of play - Communication • Febelfin • interbank workshops • www.sepabelgium.be • leaflets • specific communication on SEPA issues • NBB info sessions • CEC • Working groups • SEPA info days • Each bank's own communication strategy towards clients

  24. Lessons learnt from a big biller:Répartition du total des mandats de domiciliation sur le total des créanciers enregistrés en Belgique (en %)

  25. Lessons learnt from a big biller :SDD is new • New business rules • New master data mandate management • Create, modify, delete, scanning, archiving • R-Transactions : impact on process, data,… • New file format • New interfaces with bank e.g. upgrade Isabel • New documents : Letters, footers,… • New reports to create • New hardware / software e.g. scanner, …

  26. Lessons learnt from a big biller :Time and information • A Program structure with a budget and dedicated ressources • A Planning (Time not to underestimate) • To start it as fast as possible, It takes time • To choose your bank(s) partners as quickly as possible • To create awareness internal & external • To train everybody • Tests Tests Tests and Tests • To inform your customer

  27. Next steps

  28. Next steps • Collect information from you on your planning • Organise and structure the communication

  29. Next steps : migration SCT Migration done SCT 2008 2011 2009 2010 Q1 April Q4 31/12 Q2 Q4 Q3 28/01 Start SEPA jan maa feb op aanvraag aanslag met SEPA- formulier stop verzending oude formulieren aangifte met brochure stop verwerking oude formulieren

  30. Next steps: migration SDD

  31. European developments • SDD Fixed amount scheme • EPC scheme • Code of conduct ? • European Commission Green Paper • "Towards an integrated European market for card, internet and mobile payments." http://ec.europa.eu/internal_market/payments/cim/index_en.htm

  32. Concluding remarks • SEPA: major change • SEPA: irreversible evolution • Self-regulation versus regulation by public authorities • Still major challenges: • take off of direct debit • European cards schemes

  33. Information and Contacts • your bank ... • Febelfin • http:/www.sepabelgium.be • NBB • www.nbb.be/sepa/ • Jan Vermeulen tel 02 221 23 12 • Axelle Waterkeyn tel 02 221 49 80 • cashlesspayments@nbb.be • European Commission • http://ec.europa.eu/internal_market/payments/sepa/index_en.htm • EPC • www.europeanpaymentscouncil.eu/

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